Global oil prices have spiked following fresh Houthi attacks on Saudi energy facilities, even as diplomats scramble for a resolution to the ongoing U.S.-Iran conflict.
Global energy markets are entering a period of profound instability as critical maritime chokepoints face mounting logistical and security crises, driving up fuel prices.
China is scrambling to secure alternative energy sources as Middle Eastern conflicts disrupt critical supply routes, forcing the nation to drain its strategic reserves.
New US legislation empowers the President to impose heavy tariffs on nations importing Russian energy, placing China and India in a difficult economic position.